Get $20 off at Amazon with your Capital One credit card

With Prime Day right around the corner, Amazon has just extended a limited-time offer that will make Capital One credit card holders very happy. The promotion was originally scheduled to expire on September 30, but it’s now available all the way until the end of 2020.

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Last year, Capital One added Amazon’s “Shop with Points” program as a redemption option on several of its credit cards. You’re typically better off redeeming Capital One miles for travel or cash back, but if you’re targeted for this current offer, you can save $20 on a purchase of $80 or more when using your Capital One miles or cash back at Amazon anytime between now and December 31.


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Not everyone will be eligible for this offer, but to find out if you’re targeted — and to learn how to apply the discount to your upcoming Amazon order — follow these steps.

How to save money at Amazon with your Capital One credit card

Many Capital One credit card holders can elect to redeem their rewards at Amazon, including customers with the Capital One® VentureOne® Rewards Credit Card, the Capital One® Quicksilver® Cash Rewards Credit Card and the Capital One® Savor® Cash Rewards Credit Card, just to name a few.

To start, eligible Capital One card holders will need to link their credit card to their Amazon account and enroll in the “Shop with Points” payment option. You can click on this link to add your card to Amazon and the “Shop with Points” program, or look for it under the “Your Account” tab on Amazon’s website.

Once your Capital One card is linked, you’ll need to activate the $20 off $80 offer by clicking on this link. Since this is a targeted promotion, you might see a message that says you’re not eligible for the offer. However, if you’re not lucky right now, keep on checking back every so often, as Amazon often targets additional people in batches.

Also, if you just linked your Capital One card to “Shop with Points,” it can take up to 24 hours for the system to update, so you’ll need to wait a day in that case before confirming if you’re eligible.

But if you do see the offer after clicking on the promotion link, you’ll need to enroll in it by clicking the “Activate now” button. Once you’re enrolled, all products that are sold and shipped by Amazon will qualify for the offer. And, even though the offer doesn’t apply to Amazon gift cards, it can be used for many other retailer gift cards, such as Lowe’s and Airbnb.

Once you’ve activated the offer, you can go ahead and shop at Amazon as you normally would. When you’ve added at least $80 in items to your Amazon cart and you’re ready to check out, you’ll need to select your linked Capital One credit card as your payment method and choose to apply miles or cash back to your purchase.

Now, although there are a number of differences across the various Capital One credit cards, the biggest distinction is the type of rewards you earn — cash back versus miles.

For Capital One cards that earn cash back, $1 in cash rewards is worth $1 in redemption value on Amazon. This is the same return as simply opting for cash back, so you can apply as much or as little cash back as you want.

a screenshot of a cell phone: Targeted Capital One credit card holders can get $20 off a purchase of $80 or more at Amazon.

© Amazon
Targeted Capital One credit card holders can get $20 off a purchase of $80 or more at Amazon.

But for Capital One cards that earn miles, you’ll have to redeem 125 miles for every $1 spent on Amazon. This means you’re redeeming at only 0.8 cents per mile, significantly lower than you can get from other redemptions. CNN Underscored’s partner The Points Guy values Capital One miles at 1.4 cents apiece since they can be redeemed at a higher rate for travel purchases, or transferred to many partner airlines and hotels for even more value.

Fortunately, there’s good news. You only need to use 1 mile at checkout for the promotion to apply. You can then pay for the rest of your purchase with your Capital One credit card and still get the entire $20 discount, which will appear on the right side of the checkout screen once you apply your miles or cash back.

One word of caution: Often, Amazon will automatically apply enough miles or cash back to fully cover the cost of the purchase. So if you only want to use 1 mile, you’ll need to manually enter “$0.01” in the “Apply Capital One rewards” box. Of course, you can use as many miles as you’d like if you’d rather redeem rewards for your purchase.

a screenshot of a cell phone: You can apply just 1 Capital One mile to your order and still get the entire discount.

© Amazon
You can apply just 1 Capital One mile to your order and still get the entire discount.

Get $20 off some great Amazon products

With Amazon serving as a go-to shopping site for many households these days, this promotion is the perfect way to save some additional money, especially since so many products qualify. Let’s take a look at some real-life examples of how this promotion can be used on your next purchase.

In CNN Underscored’s recent roundup of the best single-serve coffee makers of 2020, this Moccamaster Technivorm Cup One Coffee Brewer was named our overall best luxury single-serve coffee maker. Currently pricing at $219, you can snag this top-notch brewer for just $199 plus taxes and shipping once the $20 Capital One discount is applied.

Or, if you’re in a back-to-school mentality and remote learning is the new normal in your household, new headphones for your child’s next Zoom call might be on your radar. In CNN Underscored’s guide to the best over-ear headphones, we picked these JBL Live 650BTNC headphones as our best budget buy. They’re $199.95 right now at Amazon, but this extra $20 savings will bring your price down to $179.95 before taxes and shipping.

You can even pair this discount with Amazon’s daily deals or the online retailer’s Big Fall Sale that’s going on right now with up to 20% off work, learn and at-home essentials. Or combine it with Amazon’s category-specific money-saving offers, such as saving $20 when you spend $60 on select beauty products.

Don’t have a Capital One credit card?

Even if you don’t have a Capital One credit card — or if you aren’t targeted for this particular promotion — there are similar Amazon offers going on right now for those with Discover cards, American Express cards and Chase credit cards. This means there’s a chance you might be able to still save some money on your next Amazon purchase. Also, remember to check back regularly on all of these offers to see if your card gets targeted for one or more of them down the line.

And continue to be on the lookout for similar Amazon credit card promotions, as they seem to pop up quite often these days, and there’s no limit on the amount of money you can save with Amazon using different offers over time simply by redeeming your credit card rewards. This means you’ll want to keep your credit card enrolled in Amazon’s “Shop with Points” program in case you’re eligible for another offer at a later date.

With so many Amazon promotions currently available, there are tons of ways to save money right now by using credit card rewards. So if you’re looking to take advantage of this Capital One offer, make sure to use it before it expires on December 31, and save money at Amazon today!

Read CNN Underscored’s guide to the best credit cards for Amazon purchases.

Get all the latest personal finance deals, news and advice at CNN Underscored Money.

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